During 2022 the Brazilian economy continued to recover from the pandemic shock of 2020, with 2.9 per cent GDP growth, said João Costa Pereira, Banco Ourinvest S.A., Brazil in the article included in the most recent edition of the World Factoring Yearbook. In line with the rest of the world, 2022 was the year when rising inflation returned, but in Brazil it was rapidly tamed by a sharp rise in interest rates by the Central Bank, from two per cent in March 2021 to 13.75 per cent in September 2022, where it has remained ever since.
